In this report, Argaam listed the companies that went public in 2024 and 2025, tracking their performance on the Main Market (Tadawul) across different periods and up to the market close on Sept. 18, 2025.
The report also listed the underwriters of these offerings, key pre-offering financial indicators, including market capitalization, P/E, and P/B.
The report showed a clear divergence in company valuations, which in turn impacted the post-listing stock performance. While some companies recorded strong gains above their offering price, others faced pressures, having their share price below the IPO level.
The Saudi market’s benchmark index delivered better performance in 2024, compared to the current year, reaching a record high in March 2024 at 12,883 points. Since February 2025, however, the index has seen continuous declines, losing around 12% year-to-date (YTD), a trend that could impact the valuation of certain IPOs at the time of offering.
In this report, Argaam listed the companies that went public in 2024 and 2025, tracking their performance on the Main Market (Tadawul) across different periods and up to the market close on Sept. 18, 2025.
The report also listed the underwriters of these offerings, key pre-offering financial indicators, including market capitalization, P/E, and P/B.
The report showed a clear divergence in company valuations, which in turn impacted the post-listing stock performance. While some companies recorded strong gains above their offering price, others faced pressures, having their share price below the IPO level.
The Saudi market’s benchmark index delivered better performance in 2024, compared to the current year, reaching a record high in March 2024 at 12,883 points. Since February 2025, however, the index has seen continuous declines, losing around 12% year-to-date (YTD), a trend that could impact the valuation of certain IPOs at the time of offering.
